Mobile-only bank NUMBER26 and international money transfer platform TransferWise announced Thursday (Feb. 25) that they are joining forces in a new partnership that will provide NUMBER26 customers with in-app access to TransferWise’s service.
“Our goal is to leverage the best banking products from around the world and make them accessible to customers with one tap, creating a FinTech Hub inside the NUMBER26 app,” NUMBER26 Cofounder and CEO Valentin Stalf said in a press release.
“And by adding one of the world’s best FinTechs in TransferWise as our flagship partner, we can drive banking innovation much faster than traditional banks,” Stalf continued.
The service was made available to customers in Austria, France, Germany, Greece, Ireland and Slovakia at the time of the announcement and will permit transfers from euros to eight initial currencies. Support for additional currencies is expected in the coming months.
The companies stated that they share a common goal: “to reinvent an outdated financial industry and provide a transparent banking experience for consumers.”
“We want to make it as easy and fair as possible for people who need to send money abroad, so we’re very excited that NUMBER26 customers can now access the TransferWise experience without leaving their banking app,” TransferWise CEO and Cofounder Taavet Hinrikus explained in a statement. “This is a great step towards consumers having a wider choice of financial service providers and getting the best service for them.”
NUMBER26, which launched in 2015, has already reached 100,000 customers across Europe and allows bank accounts to be set up in as little as eight minutes.